{"id":61631,"date":"2026-05-06T08:38:16","date_gmt":"2026-05-06T12:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-treasury-holds-refunding-steady-at-125b-as-geopolitical-tensions-and-adp-data-take-center-stage\/61631\/"},"modified":"2026-05-06T08:38:16","modified_gmt":"2026-05-06T12:38:16","slug":"us-treasury-holds-refunding-steady-at-125b-as-geopolitical-tensions-and-adp-data-take-center-stage","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-treasury-holds-refunding-steady-at-125b-as-geopolitical-tensions-and-adp-data-take-center-stage\/61631\/","title":{"rendered":"US Treasury Holds Refunding Steady at $125B as Geopolitical Tensions and ADP Data Take Center Stage"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The U.S. Treasury set its quarterly refunding at $125 billion, keeping coupon issuance stable for the next several quarters despite shifting economic conditions.<\/strong><\/li>\n<li><strong>Reports of a draft agreement between the U.S. and Iran emerged via Pakistani sources, aiming to end hostilities and reopen the Strait of Hormuz.<\/strong><\/li>\n<li><strong>U.S. ADP private employment rose by 109,000 in April, missing the 120,000 estimate but showing growth over the previous month.<\/strong><\/li>\n<li><strong>AMD (<a href=\"\/stock\/AMD\">AMD<\/a>) and Super Micro Computer (<a href=\"\/stock\/SMCI\">SMCI<\/a>) shares surged in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> following robust earnings beats driven by AI demand.<\/strong><\/li>\n<li><strong>EU trade relations remain strained as U.S. officials claim the bloc has failed to meet its tariff and non-tariff commitments.<\/strong><\/li>\n<\/ul>\n<p>The <strong>U.S. Treasury Department<\/strong> announced its quarterly refunding plan on Wednesday, setting the total at <strong>$125 billion<\/strong>, a figure that aligns with market expectations. The refunding includes a <strong>$58 billion 3-year note<\/strong> auction on May 11, a <strong>$42 billion 10-year note<\/strong> auction on May 12, and a <strong>$25 billion 30-year bond<\/strong> auction on May 13. Treasury officials indicated that coupon issuance is expected to remain stable for <em>at least the next few quarters<\/em>, providing a sense of predictability for bond markets.<\/p>\n<p>On the geopolitical front, <strong>Pakistani sources<\/strong> reported that the <strong>U.S. and Iran<\/strong> are closer to signing a preliminary agreement to end the current war. The draft agreement reportedly includes a timetable for ending all hostile actions and <strong>reopening the Strait of Hormuz<\/strong> to international navigation. However, <strong>President Trump<\/strong> tempered the optimism, stating it is <strong>&quot;too soon&quot;<\/strong> to begin preparations for a peace signing or face-to-face negotiations, while Iranian sources characterized recent media reports as an &quot;American wish list.&quot;<\/p>\n<p>Economic data released Wednesday morning showed the <strong>U.S. ADP Employment Change<\/strong> for April came in at <strong>109,000<\/strong>, missing the consensus estimate of <strong>120,000<\/strong>. While the figure was lower than expected, it marked an increase from the revised <strong>61,000<\/strong> jobs added in March. <em>Market participants are closely watching these labor figures as a precursor to the official non-farm payrolls report due later this week.<\/em><\/p>\n<p>In the corporate sector, <strong>AMD<\/strong> (<a href=\"\/stock\/AMD\">AMD<\/a>) shares skyrocketed <strong>21%<\/strong> in pre-market trading after the company reported an earnings and revenue beat, fueled by <em>accelerating data center growth and strong GPU shipments<\/em>. <strong>Super Micro Computer<\/strong> (<a href=\"\/stock\/SMCI\">SMCI<\/a>) followed suit, rising <strong>15%<\/strong> on a significant profit beat and a stellar outlook for <strong>AI server demand<\/strong>. Meanwhile, pharmaceutical giant <strong>Eli Lilly<\/strong> (<a href=\"\/stock\/LLY\">LLY<\/a>) initiated a <strong>benchmark 8-tranche bond sale<\/strong> to capitalize on current market liquidity.<\/p>\n<p>Trade tensions between the <strong>U.S. and the European Union<\/strong> have resurfaced, with trade official <strong>Greer<\/strong> stating that the EU&#39;s <strong>tariff and non-tariff commitments<\/strong> have not yet come to fruition. <strong>Greer<\/strong> noted that the EU has had &quot;plenty of time&quot; to meet these promises. Simultaneously, <strong>German Foreign Minister Wadephul<\/strong> warned that the EU&#39;s <strong>unanimity rule<\/strong> is a threat to the bloc\u2019s existence, advocating for <strong>qualified majority voting<\/strong> to allow for faster decision-making in foreign policy.<\/p>\n<p>Finally, <strong>Sweden&#39;s government<\/strong> revised its <strong>2026 GDP growth forecast<\/strong> downward to <strong>+2.3%<\/strong>, from a previous estimate of <strong>+2.8%<\/strong>. In Germany, the <strong>Economy Ministry<\/strong> confirmed positive discussions with multiple nations, including <strong>Israel<\/strong>, regarding future <strong>energy supplies<\/strong>, even as the government maintains that vaccine supplies for the domestic population remain assured.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The U.S. Treasury set its quarterly refunding at $125 billion, keeping coupon issuance stable for the next several 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